While the National Council of La Raza (NCLR) indicated the final rule does not reflect all of its recommendations, the organization, «is pleased that CFPB has crafted a broad and inclusive definition of a Qualified Mortgage that will ensure Hispanic homebuyers are better
protected from predatory lenders.»
Critics, however, say Hensarling is out - of - touch with the complex world of 21st century finance, where consumers need
protection from predatory lenders and the financial system is vulnerable to gaming by sophisticated players.
Not surprisingly, Americans locked out of government - backed credit took on riskier mortgages (
sometimes from predatory lenders) in neighborhoods that received little government investment.
For consumers in Delaware, it's critical to understand not only how to get a loan, or who offers them, but also how to protect
yourself from predatory lenders and scams — and what to do if you think you've been a victim.
God save
us all from these predatory lenders that are using the government to rape and pillage us all.